The Federal Reserve cut interest rates for the first time in months, potentially lowering mortgage rates and bond yields. A 30-year fixed-rate mortgage dropped to 6.35%, its lowest since October 2024. Lower rates may also boost cryptocurrency, mirroring past trends where bitcoin surged during periods of low interest rates. This decision follows pressure from President Trump and recent economic data showing a faster-than-expected decline in the labor market and rising inflation.

Prepared by Christopher Adams and reviewed by editorial team.